Short

ETH/USD Potential Rising Wedge (Idea)

Updated

Hi traders! I've said this previously on my signal group and also on other various discords, but keep on tracking the potentially valid rising wedge seen on the 4 hourly ETH/USD, has not broken out but is near the apex, Cipher B criterias are all met on the longer TF such as the money flow in the green and momentum coiling down for a move to the downside. Majority of the long term TF say the same story - so keep tracking it and see where this goes :)). If it does break down out of this wedge, I expect a 4 hourly candle close below the wedge to confirm that it has broken formation.

Note

Rising wedge brokeout to the downside, closed 4 hourly candle below the formation. May possibly go for a retest of the bottom rising wedge trendline. Signal group have turned their short trades risk free and realised partial profits at the support level.

Note

Has gone for a retest of the rising wedge bottom trendline :))

Note

Rising wedge has hit price target, hitting support :)) you can close off the remainder of the trade now in major profits.

mqtt

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